Business, 24.05.2021 14:00 michaelhal414

You are researching Ohio Manufacturing and have found the following accounting statement of cash flows for the most recent year. You also know that the company paid $98 million in current taxes and had an interest expense of $48 million. Use the accounting statement of cash flows to construct the financial statement of cash flows. TIME MANUFACTURING Statement of Cash Flows ($ in millions)
Operations
Net income $192
Depreciation 76
Deferred taxes 13
Changes in assets and liabilities
Accounts receivable 16
Inventories 17
Accounts payable 13
Accrued expenses -7
Other 2
Total cash flow from operations $290
Investing activities
Acquisition of fixed assets $198
Sale of fixed assets 21
Total cash flow from investing activities - $177
Financing activities
Retirement of long-term debt -$150
Proceeds from long-term debt sales 115
Change in notes payable 8
Dividends -81
Repurchase of stock -11
Proceeds from new stock issue 43
Total cash flow from financing activities -$76
Change in cash (on balance sheet) $37

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You are researching Ohio Manufacturing and have found the following accounting statement of cash flo...